Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY): Empowering Farmers for a Secure Future
In an agrarian country like India, where the majority of the population depends on farming for their livelihoods, ensuring the welfare and security of farmers is of utmost importance. Recognizing this, the Indian government launched the Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) in September 2019, with the aim of providing social security to small and marginal farmers in their old age.
Under the PM-KMY scheme, farmers between the ages of 18 and 40 are eligible to enroll and avail the benefits of this pension scheme. The scheme is voluntary, and farmers need to contribute a nominal amount on a monthly basis, depending on their age, in order to avail the pension benefits once they reach the age of 60. The central government also contributes an equal amount to the pension fund for each farmer enrolled.
One of the key objectives of PM-KMY is to provide a financial cushion to farmers during their old age, as they often face economic hardships after retiring from active farming due to inadequate savings and support systems. The pension amount, ranging from Rs. 3,000 to Rs. 5,000 per month, serves as a steady source of income to meet their basic needs and maintain their dignity and well-being.
Through the PM-KMY scheme, the government aims to cover around 5 crore small and marginal farmers within the next three years. The unique feature of this scheme is that it does not require farmers to undergo any medical examination or provide any guarantee, making it easily accessible to all eligible farmers. The enrollment process is simple and hassle-free, ensuring that even the most vulnerable and remote farmers can easily register and benefit from the scheme.
Additionally, the PM-KMY scheme also provides options for enrollment through Common Service Centers (CSCs), an initiative under the Digital India mission, where farmers can avail various government services using electronic platforms. By leveraging technology, the government has made it easier for farmers to enroll, remit contributions, and access their pension account details in a transparent and efficient manner.
The PM-KMY scheme not only provides financial security but also ensures that farmers are connected to the mainstream economy. By enrolling in the scheme, farmers become eligible for various other social welfare benefits, such as life insurance coverage under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and accidental insurance under the Pradhan Mantri Suraksha Bima Yojana (PMSBY). This integrated approach aims to uplift and empower farmers, enabling them to lead a dignified life and contribute to the nation’s progress.
To promote awareness and make the scheme accessible to all eligible farmers, the government has undertaken extensive outreach campaigns, organizing camps, and engaging with farmer groups and associations. State governments, district administrations, and various stakeholders are working in collaboration to ensure the scheme reaches the intended beneficiaries. Efforts are being made to simplify the enrollment process further and expand the coverage of the scheme to reach even the most remote areas.
The Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) is a vital step towards recognising the invaluable contributions of farmers and ensuring their well-being. By providing farmers with financial security and a steady income during their old age, the government is empowering them to face the challenges that come with retiring from active farming. The scheme plays a significant role in building a strong and resilient agricultural sector, promoting rural development, and upholding the dignity and prosperity of farmers, who are the backbone of our nation.